Coforge shares rally 10%, hit upper circuit after reporting 24% YoY jump in Q2 PAT

The shares of Coforge zoomed 10%, hitting their upper circuit at Rs 7,475.15 on the BSE after the company reported a profit after tax of Rs 233.6 crore for the second quarter ended September 2024, a 24.3% YoY jump from the corresponding quarter of the previous year.

Revenue for the quarter was reported at Rs 3,062.3 crore, which was up by 26.3% Q-o-Q and 33% YoY in constant currency (CC) terms.

EBITDA margin for the quarter stood at 15.8%, up 53 bps on a YoY basis, while the cash flow from operations for the quarter stood at $ 10.9 million.

Order intake stood at $ 516 million, the eleventh consecutive quarter of $ 300+ million order intake.

Additionally, the company’s board has recommended an interim dividend of Rs 19 per share and the record date for this payout has been fixed as October 11.

“Q2FY25 has been an exceptional quarter for the firm. A 27 percent sequential dollar growth with the organic business having grown 6.3 percent sequentially, a concurrent and material expansion in EBITDA, the second consecutive quarter of significant net headcount addition, a large deals pipeline that is looking very robust and an even strengthening order executable which now is 40 percent higher YoY gives us confidence that the quarter and quarters to come shall see robust and sustained growth. The growth and the margin expansion at Cigniti are a preview of sustained growth and further increases in margin to follow. We have operationally fully integrated the Cigniti team and the synergies have exceeded even our expectations” said Mr. Sudhir Singh, Chief Executive Officer of Coforge.The shares of Coforge have increased by 35.9% in the last one year and 9.8% in the current year so far.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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